One Single Word is Your Enemy in Trading
How could one single word be an enemy to your trading?
I’m going to go so far to say that this one single word will not only inhibit you in becoming successful as a trader, it’ll also stop you dead in your tracks from advancing in any worthwhile area of your life.
Every time this word crops up in my thinking before I trade, I know I am walking on dangerous ground. So that’s why I’ve trained myself to stop and do a “checkup from the neck up” whenever this word suddenly appears.
The word is:
BETTER.
I’m going to give you a little insight into how my mind has used this simple word to kill my forward progress as a trader.
The conversation with myself goes something like this….
“WOW this trade looks pretty good…bouncing right off support… but the volume isn’t exactly the best so I’m not going to take this trade today because there may be a ‘BETTER’ one tomorrow.”
Using the word BETTER can keep us from taking action on some type of education we know could make us more skilled, more focused, and more knowledgeable traders….
But we refuse because there may be a “BETTER” time down the road. Maybe tomorrow. Maybe when I have “enough” money. Maybe the Market will create a “BETTER” opportunity for me to get in.
If we listen to the lies that promise something BETTER down the road, we give away the immediate choice we have TODAY to improve our trading and grow as individuals, and we are dependent on whenever that BETTER thing chooses to arrive.
Don’t fall prey to this line of thinking. It will keep you from accomplishing what you deeply desire and it will certainly keep you from trading success.
Don’t get my wrong. I am all for becoming a BETTER trader, person, parent, and spouse. But giving up a great opportunity with hope that something BETTER is out there is absolutely dangerous to anyone’s growth and development.
So right now, leave me a comment below and tell me this: What one area… either in your life or in your trading… are you waiting for something better?
5 Responses to “One Single Word is Your Enemy in Trading”
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I spent many thousands of dollars and years searching for a better system to improve my trading. It wasn’t until I started to look at myself that I realized I had to change my thinking and use the knowledge I had gain over the years to develop a trading plan of my own. I am finally on the right track to being a successful trader.
After many years of trading, I completely agree with Jeff.
True, tend to get in too late and out too early. Have tried many sites and systems and never seem to get better
I’m 70 years old and if I wait to get better I might not get there. You get better by trying to get better. Maybe be the best you can be would be better than waiting for things to get better or waiting for the better way or the better thing. Some things never get better, so make the best of what you have to work with. In trading you have to have a plan and work the plan. In life, it’s the same. If you ask for help from the Holy Spirit, He will guide you. He knows everything about everything, so what can be better than that?
I could not agree more Jeff and Mr Robert Carr.
pefectionism is a circular momentum sucking path which never achieves its goal.
There is only One who is perfect, and it aint me!!!
Thank you Jeff for the forum and what you do!